Chinese yuan tanks

Monday, 27 June 2016

It’s OK because Australia is different but if we were a part of the global economy (which thank God we are not) then this would could be a problem. As the US dollar rises the Chinese yuan has tanked to new lows:

Against the euro, it has also been devaluing steadily although today it’s struggling to beat the old dog under the bar:

Quartz has a nice little piece on European/Chinese trade:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.